Prabhat Patnaik
Encyclopedia
Prabhat Patnaik is an Indian Marxist economist
and political commentator, who has achieved international acclaim with his incisive analysis of economics and politics. He was teaching at the Centre for Economic Studies and Planning in the School of Social Sciences at Jawaharlal Nehru University
in New Delhi
from 1974 to 2010. He was the Vice-Chairman of the Planning Board of the Indian state of Kerala
from June 2006 till May 2011.
in Orissa
in September 1945 and after early schooling in his home town, studied at Daly College
, Indore
, on a Government of India Merit Scholarship. He passed his B.A. with Economics Honours from St. Stephen's College, Delhi
. He went to Oxford University in 1966 on a Rhodes scholarship and studied at Balliol College and later at Nuffield College. He obtained his B.Phil
and his D.Phil.
degrees from Oxford University.
. In 1974 he returned to India as an Associate Professor at the newly established Centre for Economic Studies and Planning (CESP) at the Jawaharlal Nehru University
(JNU), New Delhi
. He became a Professor at the Centre in 1983 and taught there till his retirement in 2010. At the time of retirement, he held the Sukhamoy Chakravarty Chair in Planning and Development at CESP. .
His specialization is Macroeconomics
and Political Economy
, areas in which he has written a number of books and articles. His books include Time, Inflation and Growth (1988), Economics and Egalitarianism (1990), Whatever Happened to Imperialism and Other Essays (1995), Accumulation and Stability Under Capitalism (1997), The Retreat to Unfreedom (2003), The Value of Money (2008) and Re-envisioning Socialism (2011). He is the editor of the journal Social Scientist, which under his stewardship has become a highly effective vehicle for progressive ideas and fertile research.
He is married to Prof Utsa Patnaik, who retired in 2010 as a faculty member at the Centre for Economic Studies and Planning (CESP) in Jawaharlal Nehru University (JNU), New Delhi.
He served as the Vice-Chairman of the Kerala State Planning Board
from June 2006 to May 2011.
Patnaik was part of a four-member high-power task force of the United Nations
(U.N.) to recommend reform
measures for the global financial system
. Chaired by Joseph Stiglitz, the other members were Belgian sociologist Francois Houtart
and Ecuador
’s Minister for Economic Policy Pedro Paez
.
of neoliberal economic policies, and is known as a social scientist of Marxist-Leninist persuasion.
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and political commentator, who has achieved international acclaim with his incisive analysis of economics and politics. He was teaching at the Centre for Economic Studies and Planning in the School of Social Sciences at Jawaharlal Nehru University
Jawaharlal Nehru University
Jawaharlal Nehru University, also known as JNU, is located in New Delhi, the capital of India. It is mainly a research oriented postgraduate University with approximately 5,500 students and a faculty strength of around 550.-History:...
in New Delhi
New Delhi
New Delhi is the capital city of India. It serves as the centre of the Government of India and the Government of the National Capital Territory of Delhi. New Delhi is situated within the metropolis of Delhi. It is one of the nine districts of Delhi Union Territory. The total area of the city is...
from 1974 to 2010. He was the Vice-Chairman of the Planning Board of the Indian state of Kerala
Kerala
or Keralam is an Indian state located on the Malabar coast of south-west India. It was created on 1 November 1956 by the States Reorganisation Act by combining various Malayalam speaking regions....
from June 2006 till May 2011.
Early life and education
Prabhat Patnaik was born in JatniJatani
Jatani or Jatni or Khurda Road is a city and a municipality in Khordha district in the Indian state of Orissa. It is close to Bhubaneswar, the state capital of Orissa. Jatni town is also known as 'Khurda Road' in railways. It is an important railway junction and gateway to the vast tribal hinterland...
in Orissa
Orissa
Orissa , officially Odisha since Nov 2011, is a state of India, located on the east coast of India, by the Bay of Bengal. It is the modern name of the ancient nation of Kalinga, which was invaded by the Maurya Emperor Ashoka in 261 BC. The modern state of Orissa was established on 1 April...
in September 1945 and after early schooling in his home town, studied at Daly College
Daly College
The Daly College, located in Indore, Madhya Pradesh, was founded by Sir Henry Daly of the British Indian Army during India's colonial British Raj. It was established in 1881, and is one of the oldest co-educational boarding school in the world....
, Indore
Indore
Indore is one of the major city in India, the largest city and commercial center of the state of Madhya Pradesh in central India. Indore is located 190 km west of the state capital Bhopal. According to the 2011 Indian census, Indore city has a population of 1,960,631...
, on a Government of India Merit Scholarship. He passed his B.A. with Economics Honours from St. Stephen's College, Delhi
St. Stephen's College, Delhi
St. Stephen's College is a constituent college of the University of Delhi located in Delhi, India. The college admits both undergraduates and post-graduates, and awards degrees under the purview of the University. Famous for its rich history and many traditions, St...
. He went to Oxford University in 1966 on a Rhodes scholarship and studied at Balliol College and later at Nuffield College. He obtained his B.Phil
Bachelor of Philosophy
Bachelor of Philosophy is the title of an academic degree. The degree usually involves considerable research, either through a thesis or supervised research projects...
and his D.Phil.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
degrees from Oxford University.
Career
Patnaik joined the Faculty of Economics and Politics of the University of Cambridge, UK in 1969 and was elected a Fellow of Clare College, CambridgeClare College, Cambridge
Clare College is a constituent college of the University of Cambridge in Cambridge, England.The college was founded in 1326, making it the second-oldest surviving college of the University after Peterhouse. Clare is famous for its chapel choir and for its gardens on "the Backs"...
. In 1974 he returned to India as an Associate Professor at the newly established Centre for Economic Studies and Planning (CESP) at the Jawaharlal Nehru University
Jawaharlal Nehru University
Jawaharlal Nehru University, also known as JNU, is located in New Delhi, the capital of India. It is mainly a research oriented postgraduate University with approximately 5,500 students and a faculty strength of around 550.-History:...
(JNU), New Delhi
New Delhi
New Delhi is the capital city of India. It serves as the centre of the Government of India and the Government of the National Capital Territory of Delhi. New Delhi is situated within the metropolis of Delhi. It is one of the nine districts of Delhi Union Territory. The total area of the city is...
. He became a Professor at the Centre in 1983 and taught there till his retirement in 2010. At the time of retirement, he held the Sukhamoy Chakravarty Chair in Planning and Development at CESP. .
His specialization is Macroeconomics
Macroeconomics
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. This includes a national, regional, or global economy...
and Political Economy
Political economy
Political economy originally was the term for studying production, buying, and selling, and their relations with law, custom, and government, as well as with the distribution of national income and wealth, including through the budget process. Political economy originated in moral philosophy...
, areas in which he has written a number of books and articles. His books include Time, Inflation and Growth (1988), Economics and Egalitarianism (1990), Whatever Happened to Imperialism and Other Essays (1995), Accumulation and Stability Under Capitalism (1997), The Retreat to Unfreedom (2003), The Value of Money (2008) and Re-envisioning Socialism (2011). He is the editor of the journal Social Scientist, which under his stewardship has become a highly effective vehicle for progressive ideas and fertile research.
He is married to Prof Utsa Patnaik, who retired in 2010 as a faculty member at the Centre for Economic Studies and Planning (CESP) in Jawaharlal Nehru University (JNU), New Delhi.
He served as the Vice-Chairman of the Kerala State Planning Board
Kerala State Planning Board
The Kerala State Planning Board is an advisory board under the Government of the State of Kerala, India. It was constituted in 1967 with Chief Minister as Chairman and a non-official as part time Vice-Chairman. The board assists the state government in formulating a development plan based on a...
from June 2006 to May 2011.
Patnaik was part of a four-member high-power task force of the United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
(U.N.) to recommend reform
Reform
Reform means to put or change into an improved form or condition; to amend or improve by change of color or removal of faults or abuses, beneficial change, more specifically, reversion to a pure original state, to repair, restore or to correct....
measures for the global financial system
Global financial system
The global financial system is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level...
. Chaired by Joseph Stiglitz, the other members were Belgian sociologist Francois Houtart
François Houtart
François Houtart is a Belgian marxist sociologist and Catholic priest.He studied philosophy and theology at the seminary of Mechelen and became a priest in 1949. He earned a masters degree in political and social sciences at the Catholic University of Leuven . He earned a degree at the...
and Ecuador
Ecuador
Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border...
’s Minister for Economic Policy Pedro Paez
Pedro Páez
Pedro Páez Jaramillo was a Spanish Jesuit missionary in Ethiopia. Páez is considered by many experts on Ethiopia to be the most effective Catholic missionary in Ethiopia...
.
Views
Prabhat Patnaik is a staunch criticCritic
A critic is anyone who expresses a value judgement. Informally, criticism is a common aspect of all human expression and need not necessarily imply skilled or accurate expressions of judgement. Critical judgements, good or bad, may be positive , negative , or balanced...
of neoliberal economic policies, and is known as a social scientist of Marxist-Leninist persuasion.